The objectives of the financial inclusion for which Islamic banking was explored by RBI has no relevance, as government has already introduced other means of financial inclusion like Jan Dhan Yojana and Suraksha Bima Yojna for all citizens, govt said.

By linking his personal prestige directly to demonetisation from the very start, the prime minister ensured that his government is too directly committed for it to contemplate even limited tactical retreats.